Scienjoy Holding Corp

NASDAQ:SJUnited States

Yesterday

Show headlines and story abstract

• Scienjoy Holding Corporation Reports Nine Months ended September 30, 2024 Unaudited Financial Results, from 8:30AM ET on Monday Nov 25, 2024 by PR Newswire

  8:30AM ET on Monday Nov 25, 2024 by PR Newswire
  Companies Mentioned: SJ

  Income from Operations up 313.7% Year Over Year Net Income Increased by Approximately US$10 million Year Over Year

  Scienjoy Holding Corporation ("Scienjoy", the "Company", or "we") (NASDAQ: SJ), an interactive entertainment leader in the Chinese market, today announced its unaudited financial results for the nine months ended September 30, 2024.

• Press Release: Scienjoy Holding Corporation Reports Nine Months ended September 30, 2024 Unaudited Financial Results, from 8:30AM ET on Monday Nov 25, 2024 by Dow Jones

  8:30AM ET on Monday Nov 25, 2024 by Dow Jones
  Companies Mentioned: SJ
  ------------ --------- ------- Total non-current liabilities 64,616 59,446 8,471 ------------ --------- ------- TOTAL LIABILITIES 298,737 211,736 30,173 ------------ --------- ------- Commitments and contingencies EQUITY Ordinary share, no par value, unlimited Class A ordinary shares and Class B ordinary shares authorized, 38,113,879 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of December 31, 2023, respectively; 38,920,797 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of September 30, 2024, respectively. Class A ordinary shares 423,623 441,732 62,946 Class B ordinary shares 23,896 23,896 3,405 Shares to be issued 30,777 20,817 2,966 Treasury stocks (19,216) (19,216) (2,738) Statutory reserves 44,698 50,907 7,254 Retained earnings 628,821 665,303 94,805 Accumulated other comprehensive income 17,965 18,448 2,629 ------------ --------- ------- Total shareholders' equity 1,150,564 1,201,887 171,267 Non-controlling interests (837) (8,890) (1,267) ------------ --------- ------- Total equity 1,149,727 1,192,997 170,000 ------------ --------- ------- TOTAL LIABILITIES AND EQUITY 1,448,464 1,404,733 200,173 ============ ========= ======= UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (All amounts in thousands, except share and per share data or otherwise stated) For nine months ended -------------------------------------------- September 30, September 30, September 30, 2023 2024 2024 -------------- ------------- ------------- RMB RMB US$ Live streaming - consumable virtual items revenue 1,001,169 981,002 139,792 Live streaming - time based virtual items revenue 18,823 18,180 2,592 Technical services and others 16,573 13,336 1,899 ------------- ------------- ------------- Total revenues 1,036,565 1,012,518 144,283 Cost of revenues (898,006) (832,942) (118,693) ------------- ------------- ------------- Gross profit 138,559 179,576 25,590 Operating expenses Sales and marketing expenses (543) (3,397) (484) General and administrative expenses (54,831) (52,454) (7,475) Provision for doubtful accounts (16,989) (30,628) (4,364) Research and development expenses (57,665) (57,800) (8,236) ------------- ------------- ------------- Total operating expenses (130,028) (144,279) (20,559) ------------- ------------- ------------- Income from operations 8,531 35,297 5,031 Change in fair value of contingent consideration (1,774) - - Change in fair value of warrants liability 169 - - Change in fair value of investment in marketable security 1,112 12,061 1,719 Investment loss (41,794) (4,396) (626) Interest income 2,244 2,800 399 Interest expense (137) - - Other income, net 1,524 713 102 Foreign exchange gain (loss), net 274 (1,030) (147) ------------- ------------- ------------- (Loss) income before income taxes (29,851) 45,445 6,478 Income tax expenses (7,491) (11,242) (1,602) ------------- ------------- ------------- Net (loss) income (37,342) 34,203 4,876 Less: net loss attributable to noncontrolling interest (2,602) (8,488) (1,210) ------------- ------------- ------------- Net (loss) income attributable to the Company's shareholders (34,740) 42,691 6,086 Other comprehensive income (loss): Other comprehensive (loss) income - foreign currency translation adjustment (1,090) 483 69 ------------- ------------- ------------- Comprehensive (loss) income (38,432) 34,686 4,945 ------------- ------------- ------------- Less: comprehensive loss attributable to non- controlling interests (2,602) (8,488) (1,210) ------------- ------------- ------------- Comprehensive (loss) income attributable to the Company's shareholders (35,830) 43,174 6,155 ============= ============= ============= Weighted average number of shares: Basic 40,594,241 41,300,961 41,300,961 ============= ============= ============= Diluted 40,594,241 41,496,822 41,496,822 ============= ============= ============= (Loss) earnings per share: Basic (0.86) 1.03 0.15 ============= ============= ============= Diluted (0.86) 1.03 0.15 ============= ============= ============= Reconciliations of Non-GAAP Results (All amounts in thousands, except share and per share data or otherwise stated) For the nine months ended -------------------------------------------- September 30, September 30, September 30, 2023 2024 2024 -------------- ------------- ------------- RMB RMB US$ Net (loss) income attributable to the Company's shareholders (34,740) 42,691 6,086 Less: Change in fair value of contingent consideration (1,774) - - Change in fair value of warrants liability 169 - - Share based compensation (11,169) (8,149) (1,161) ------------- ------------- ------------- Adjusted net (loss) income attributable to the Company's shareholders* (21,966) 50,840 7,247 ============= ============= ============= Adjusted net (loss) income per ordinary share Basic (0.54) 1.23 0.18 ============= ============= ============= Diluted (0.54) 1.23 0.18 ============= ============= ============= "Adjusted net (loss) income attributable to the Company's shareholders" is defined as net (loss) income attributable to the Company's shareholders excluding change in fair value of contingent consideration, change in fair value of warrant liability and share based compensation. For more information, refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of Non-GAAP Results" above.
  

• Scienjoy Holding Corporation Reports Nine Months ended September 30, 2024 Unaudited Financial Results, from 8:30AM ET on Monday Nov 25, 2024 by Dow Jones

  8:30AM ET on Monday Nov 25, 2024 by Dow Jones
  Companies Mentioned: SJ
  ------------ --------- ------- Total non-current liabilities 64,616 59,446 8,471 ------------ --------- ------- TOTAL LIABILITIES 298,737 211,736 30,173 ------------ --------- ------- Commitments and contingencies EQUITY Ordinary share, no par value, unlimited Class A ordinary shares and Class B ordinary shares authorized, 38,113,879 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of December 31, 2023, respectively; 38,920,797 Class A ordinary shares and 2,925,058 Class B ordinary shares issued and outstanding as of September 30, 2024, respectively. Class A ordinary shares 423,623 441,732 62,946 Class B ordinary shares 23,896 23,896 3,405 Shares to be issued 30,777 20,817 2,966 Treasury stocks (19,216) (19,216) (2,738) Statutory reserves 44,698 50,907 7,254 Retained earnings 628,821 665,303 94,805 Accumulated other comprehensive income 17,965 18,448 2,629 ------------ --------- ------- Total shareholders' equity 1,150,564 1,201,887 171,267 Non-controlling interests (837) (8,890) (1,267) ------------ --------- ------- Total equity 1,149,727 1,192,997 170,000 ------------ --------- ------- TOTAL LIABILITIES AND EQUITY 1,448,464 1,404,733 200,173 ============ ========= ======= UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (All amounts in thousands, except share and per share data or otherwise stated) For nine months ended -------------------------------------------- September 30, September 30, September 30, 2023 2024 2024 -------------- ------------- ------------- RMB RMB US$ Live streaming - consumable virtual items revenue 1,001,169 981,002 139,792 Live streaming - time based virtual items revenue 18,823 18,180 2,592 Technical services and others 16,573 13,336 1,899 ------------- ------------- ------------- Total revenues 1,036,565 1,012,518 144,283 Cost of revenues (898,006) (832,942) (118,693) ------------- ------------- ------------- Gross profit 138,559 179,576 25,590 Operating expenses Sales and marketing expenses (543) (3,397) (484) General and administrative expenses (54,831) (52,454) (7,475) Provision for doubtful accounts (16,989) (30,628) (4,364) Research and development expenses (57,665) (57,800) (8,236) ------------- ------------- ------------- Total operating expenses (130,028) (144,279) (20,559) ------------- ------------- ------------- Income from operations 8,531 35,297 5,031 Change in fair value of contingent consideration (1,774) - - Change in fair value of warrants liability 169 - - Change in fair value of investment in marketable security 1,112 12,061 1,719 Investment loss (41,794) (4,396) (626) Interest income 2,244 2,800 399 Interest expense (137) - - Other income, net 1,524 713 102 Foreign exchange gain (loss), net 274 (1,030) (147) ------------- ------------- ------------- (Loss) income before income taxes (29,851) 45,445 6,478 Income tax expenses (7,491) (11,242) (1,602) ------------- ------------- ------------- Net (loss) income (37,342) 34,203 4,876 Less: net loss attributable to noncontrolling interest (2,602) (8,488) (1,210) ------------- ------------- ------------- Net (loss) income attributable to the Company's shareholders (34,740) 42,691 6,086 Other comprehensive income (loss): Other comprehensive (loss) income - foreign currency translation adjustment (1,090) 483 69 ------------- ------------- ------------- Comprehensive (loss) income (38,432) 34,686 4,945 ------------- ------------- ------------- Less: comprehensive loss attributable to non- controlling interests (2,602) (8,488) (1,210) ------------- ------------- ------------- Comprehensive (loss) income attributable to the Company's shareholders (35,830) 43,174 6,155 ============= ============= ============= Weighted average number of shares: Basic 40,594,241 41,300,961 41,300,961 ============= ============= ============= Diluted 40,594,241 41,496,822 41,496,822 ============= ============= ============= (Loss) earnings per share: Basic (0.86) 1.03 0.15 ============= ============= ============= Diluted (0.86) 1.03 0.15 ============= ============= ============= Reconciliations of Non-GAAP Results (All amounts in thousands, except share and per share data or otherwise stated) For the nine months ended -------------------------------------------- September 30, September 30, September 30, 2023 2024 2024 -------------- ------------- ------------- RMB RMB US$ Net (loss) income attributable to the Company's shareholders (34,740) 42,691 6,086 Less: Change in fair value of contingent consideration (1,774) - - Change in fair value of warrants liability 169 - - Share based compensation (11,169) (8,149) (1,161) ------------- ------------- ------------- Adjusted net (loss) income attributable to the Company's shareholders* (21,966) 50,840 7,247 ============= ============= ============= Adjusted net (loss) income per ordinary share Basic (0.54) 1.23 0.18 ============= ============= ============= Diluted (0.54) 1.23 0.18 ============= ============= ============= "Adjusted net (loss) income attributable to the Company's shareholders" is defined as net (loss) income attributable to the Company's shareholders excluding change in fair value of contingent consideration, change in fair value of warrant liability and share based compensation. For more information, refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of Non-GAAP Results" above.